AUSTIN METALS LIMITED — AGM Information 2011

Nov 20, 2011

ABN 68 130 933 309

ANNUAL GENERAL MEETING PRESENTATION History House, 133 Macquarie St, Sydney 21 November 2011

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Important Disclaimer

This material contains certain forecasts and forward‐looking information, including information about possible or assumed future performance, exploration results, resources or potential growth of Silver City Minerals Limited (SCI), industry growth or other trend projections. Such forecasts and information are not a guarantee of future performance and involve unknown risks and uncertainties, as well as other factors, many of which are beyond the control of Silver City Minerals Limited. Actual results and developments may differ materially from those expressed or implied by these forward‐looking statements, depending on a variety of factors. Nothing in this material should be construed as the solicitation of an offer to buy or sell SCI securities.

Competent Person

Information in this document that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Christopher Torrey, who is the Managing Director and full‐time employee to of Silver City Minerals Limited, and a Member of the Australian Institute of Geoscientists. Mr Torrey has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Torrey consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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Introducing Silver City

• IPO July 2011. Raised $9.8 million

• Broken Hill Focus: High grade silver, gold and base‐metals.

• Tenure acquired via agreements with PlatSearch, CBH Resources, GCR and others.

• Strong Board with extensive Broken Hill experience

• LARGE, UNDER‐EXPLORED TENURE POSITION IN WORLD CLASS MINING CAMP

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SINCE LISTING ON ASX

• Commenced drilling within two weeks.

• Will completed approx. 13,000 metres drilling by year‐end

• Announced multiple high grade intersections from the Allendale

• Defined Razorback Anomaly with RAB

• RAB drilling at Ziggys

• Completed geophysics and geochemistry at Yellowstone

• Currently Drilling Golden King

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EXPERIENCED MANAGEMENT TEAM

Bob Besley

Chairman

Geologist with over 40 years experience in mining and exploration. Founder and original Managing Director of CBH Resources Limited. Bob took that company from inception as a junior explorer to a large zinc, lead and silver producer with a peak market cap of $600m. Currently Non‐Exec Director Kimberley Metals Ltd.

Chris Torrey

Managing Director

Geologist with over 30 years experience in international mineral exploration. Senior management and consulting roles with Cyprus‐ Amax , ASX‐listed Golden Cross Resources Ltd, US‐listed Golden Minerals and predecessor Apex Silver. Played significant role in geological assessments of the Apex silver projects in Latin America especially the 60M oz El Quevar Silver Deposit in Argentina. Was charged with Business Development role in Australia. Current Chairman of Golden Cross Resources.

Ian Plimer Non‐Executive Director

Ian Plimer is inaugural Professor of Mining Geology (University of Adelaide) and Emeritus Professor of Earth Sciences at The University of Melbourne. Ian is considered to be the world expert on the geology of the Broken Hill orebody on which he has worked and published extensively since 1968. He was Director of CBH Resources Ltd (1998 ‐2010), is a Director of Ivanhoe Australia Ltd (ASX:IVA, TSX), Non‐Exec Director of Ormil Energy Ltd (ASX:OMX) and Kefi Minerals (KEFI:L).

Greg Jones Non‐Executive Director

Greg is a geologist with 30 years exploration and mine operational experience. Senior management roles with Western Mining and Sino Gold. He currently holds directorships with ASX‐listed companies PlatSearch NL, Eastern Iron Limited and Thomson Resources. Greg is currently the Managing Director of PlatSearch NL.

Ian Hume

Non‐Executive Director

Ian was a founding partner of The Sentient Group, a private equity fund specialising in global investment in the resources sector. From 1994 to 2000, Mr Hume served as a consultant to AMP Society's Private Capital Division, focused on international mining and international mining and telecommunications investments primarily in North and South America, Russia and the Pacific Rim.

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Silver City Minerals Limited

ASX Code: SCI Fully Diluted Shares: 108.9 million Escrowed Shares: 18 million Options: 10.9 million Escrowed Options 7.4 million Market Cap: $17‐19 million Cash: $9.0 million

$17‐19 million

$9.0 million

Major Shareholders: The Sentient Group: 17.45% PlatSearch NL: 11.20%

Future Options: Notice for 1 cent “Loyalty Options” has been issued. One option for every three shares exercisable at 25 cents. Record date 21 November 2011 and expiry 3 years after record date.

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Broken Hill Mine

Giant Orebody

• Continuously mined for over 125 years to present day

• Largest and richest lead‐zinc‐silver deposit of its kind in the world

• 300 million tonnes averaging 20+% combined lead and zinc and 100‐ 300g/t silver

• Originally contained 28Mt of lead, 24Mt of zinc, 1 billion ounces of silver

• Estimated revenue in today’s Australian dollars $170 billion

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1896
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 GLOBAL COMPANY MAKER

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Silver in Australia[8]

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Where does one look for …..

…..elephants

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Re ional Settin 11 g g

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Silver City Minerals Tenements

• 6 Drill‐Ready Targets with 4

drilled to date.

• Secure title

• Limited Native Title issues

• Mining Centre – Broken Hill

• Good infrastructure

• Total area 1700 sq km

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Regional Perspective The Next Broken Hill

• Broken Hill type Mineralisation (BHT)

• Hosted in specific rock sequences “Lode Rock” corridors

 SCI Ground Hosts >100km strike of “Lode Rock” EXTENSIVE ZONE OF PROSPECTIVE ROCK

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Regional Perspective The Next Broken Hill

• Broken Hill type Mineralisation (BHT)

• Hosted in specific rock sequences “Lode Rock” corridors

• SCI Ground Hosts >100km strike of “Lode Rock”

• EXTENSIVE ZONE OF PROSPECTIVE ROCK

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Allendale

Large +3km soil basemetal anomaly.

Outcropping Lode Rocks.

Strong basemetal and silver in rock chips

High grade old mine

High grade historic drill intersections.

Only drill‐tested over 300m of strike. Over 3km untested.

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Allendale Mine

Recent SCI Drilling has returned multiple, high grade intersections.

• 10m at 4.1% Pb, 12% Zn, 29g/t Ag

• 2m at 8.4% Pb, 11.5% Zn, 39.2g/t Ag

• 2m at 5.0% Pb, 6.8% Zn, 44.3g/t Ag

• 3m at 4.0% Pb, 9.2% Zn, 31g/t Ag

• 7m at 2.5% Pb, 2.3% Zn, 21g/t Ag

• 9m at 2.5% Pb 3.1% Zn, 19.7g/t Ag

Successful first pass program. Specific mineralised horizon recognised.

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Allendale Mine

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Regional Perspective

Silver and Copper Deposits

 Abundant Historic Silver Veins (235 recorded in SCI tenure)

• Large (+20km) Geochemical Anomaly Apollyon Valley Fault (+50 old silver mines)

• Copper‐Gold and Copper Occurrences predominate in the Euriowie Block

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Maybell Silver Zone

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Apollyon Valley Silver Project

• Large Fault Structure

• Extensive lead anomaly‐ strong lead‐silver association

• High Grade Historic Silver Mines

• Potential for High Grade Veins and near‐surface leachable stockwork deposits

NEVER BEEN DRILL TESTED

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Razorback West

• Large coincident Gravity and Geochemical Anomalies

• Potential northern extension of Broken Hill Line of Lode. Offset along Stephens Creek Shear Zone

• 90% of anomaly under thin

cover

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Razorback West

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Razorback West

• Broken Hill dominated by large gravity anomaly.

• Broken Hill deposit located on western edge.

• Little Broken Hill/Native Dog located on eastern edge.

 Razorback West (under cover) located also on western edge, fault offset.

• Drilling scheduled for February.

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Golden Kin Gold‐Co er Pro ect24 SILVER CITY MINERALS LIMITED g pp j

Siliceous gossan at the Yellowstone Prospect contains elevated grades of copper and gold. Historic geophysics show a well defined anomaly. SCI is extending the geophysical survey along the shear zone to cover areas of elevated copper to the northeast.

Yellowstone Gold‐Co er Pro ect 25 SILVER CITY MINERALS LIMITED pp j

Status of Drill Programs

FIRST PASS HIGHEST PRIORITY

RAZORBACK WEST 1600m RC planned 3000m RAB completed ALLENDALE 3000m RC completed STEPHENS TRIG 1000m RC completed MAYBELL 600m RC completed GOLDEN KING 1000m RC completed YELLOWSTONE 1000m RC planned IP Survey completed ZIGGYS 2300m RAB completed Total 13,500m

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Why Invest in Silver City Minerals

• LARGE FOCUSED LAND TENURE POSITION, FIRST EVER CONSOLIDATION OF TENURE

 WORLD CLASS MINING DISTRICT

• REJUVENATED EXPLORATION AND MINING FOCUS IN THE DISTRICT

• POTENTIAL FOR HIGH GRADE GIANT BASEMETAL AND SILVER‐RICH OREBODIES

• EARLY POSITIVE DRILL RESULTS FROM ALLENDALE (Phase 2 approx. 3000m)

• ODDS INCREASED THROUGH NEW TECHNOLOGIES/NEW GEOLOGICAL MODELS

• EXPERIENCED TEAM

• OUTSTANDING INFRASTRUCTURE

• DRILL‐READY TARGETS AND DRILLING ONGOING

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ABN 68 130 933 309

Level 1, 80 Chandos Street St Leonards NSW 2065 Australia +61 2 94371737

www.silvercityminerals.com.au

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